Sept 4th 2015, By: Ariel Cobangbang - The Howard Group
As a repeat of last year, 2015 continues to be one of the most challenging years for issuers listed in the Toronto Venture Exchange. Under these prevailing market conditions, companies are finding it extremely difficult to raise capital resulting in management teams not being able to execute on their plans and deliverables. However, in spite of these challenging conditions, a few companies have managed to set themselves apart from the herd.
One company that is doing just that is Clean Seed Capital Group (TSX.V: CSX). Today, it announced that it has closed an over-subscribed non-brokered private placement – raising approximately $1.79 million. The company recently announced it was looking to raise $1.5 million.
In total, 4,492,000 units were issued at a price of $0.40 per unit. Each unit consists of one common share and a half a warrant at $0.60.
Being able to close the financing a few days after it was announced is a testament to management’s ability to raise capital in a market that is not conducive to a lot of junior issuers. It is no surprise the Company has achieved a Venture 50 Ranking for 2013 and 2014.
A quick recap of some of this year’s Clean Seed headlines paints a clear picture of why the company continues to move forward while many others have stalled:
To read latest news release, click here.